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My residence consists if house plus 40 acres all included on
My residence consists if house plus 40 acres all included on one parcel. Selling off some of the land and will get tax free status as it was part of my residence… read more
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My husband and I have a home on one acre. We are in the
My husband and I have a home on one acre. We are in the Process of doing is subdivision taking 12,000 ft.² and selling it but we will continue to live in the home that is on the remainder part of the … read more
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I have a question about capital gain on selling a portion of
I have a question about capital gain on selling a portion of my one acre land but not my home … read more
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What is a suitable way to structure a sale of vacation rental
What is a suitable way to structure a sale of vacation rental property, please? How can a calculate the costs related to the sale and tax consequences, please? I have two adjacent parcels up for sale … read more
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I am about to sign a contract to sell my house, which I have
I am about to sign a contract to sell my house, which I have owned for about 4 years, and which qualifies for Section 121 exclusion of gain. As part of the deal, the buyer wants to buy a parcel of lan… read more
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If a person owns a property and sells in order to purchase
If a person owns a property and sells in order to purchase an equal or more expensive property does that person owe capital gains on the sale of the first property… read more
RD
RD
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I have 24 Acres with a mobile home on it that I ...
I have 24 Acres with a mobile home on it that I currently reside in Johnson County Texas. I have lived there for the last 7 1/2 years and I have a potential buyer offer to purchase it (less than $500,… read more
Lev
Lev
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Bachelor's Degree Equivalent
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I bought A propetty 8 years ago for $330.000.00. It was a ...
I bought A propetty 8 years ago for $330.000.00. It was a single family home with a lot that was sub divided. We refianced after two years anf the single family home was able to carry the note on the … read more
RD
RD
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If I sell part of my homestead will I pay capital gains I ...
If I sell part of my homestead will I pay capital gains? I have owned the property for five years. I did a 1099 from a rental property, I have already sold a portion before and paid no capital gains.… read more
RD
RD
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I Had a home and a piece of property connected to my ...
I Had a home and a piece of property connected to my home...I sold the home 18 months ago and then sold the property (which has sat vacant and not used for any business purpose) 12 months later...My t… read more
The Guy Behind the Tree
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I was hoping for some help.In 1992 i acquired a 3 bedroom ...
I was hoping for some help. In 1992 i acquired a 3 bedroom bungalow in grounds of two fifths of a hectare. There is a barn on the plot that i wish to sell. I wanted to ask you about capital gains tax … read more
RD
RD
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I bought a house and 20 acres 9 years ago. It has been my ...
I bought a house and 20 acres 9 years ago. It has been my primary residence. In 2006 I split off 10 acres and sold it. Can I use my exemption on the gain and how would I show it if I also want to use … read more
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I have lived in my primary residence for over two years.
I have lived in my primary residence for over two years. I live in Culpeper County, Virginia. It is a house on 4.29 acres. I just subdivided my land. I now have a house on approx. 2 acres and a separa… read more
Lev
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Bachelor's Degree Equivalent
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I intend to sell my principal residence which meets the 2 ...
I intend to sell my principal residence which meets the 2 of 5 years test. I also own the adjoining vacant 5 acre parcel which was used as my principal residence and meets the 2 of 5 years test. I int… read more
RD
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I sold a portion of my primary residence property and then
I sold a portion of my primary residence property and then I bought another vacant peice of land else where. Am I going to have to pay capital gains tax on the land that I sold? In the future I plan o… read more
Lev
Lev
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Bachelor's Degree Equivalent
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My parents are selling 24 acres of farm land they purchased ...
My parents are selling 24 acres of farm land they purchased over 25 years ago. The cost at that time was $1200. It may sell for $6,600. How do we calculate what the capital gains tax will be? Is there… read more
Lev
Lev
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Bachelor's Degree Equivalent
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I sub-devided my property in 1999 My existing house on ...
I sub-devided my property in 1999 My existing house on one lot, the other a vacant building lot. 2006 I built a house on the vacant lot. I sell the newly built house and lot. What tax catagory; Capita… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
34,526 satisfied customers
Recently sold a property that is part of my residence.
Recently sold a property that is part of my residence. Sale price $165,000 I bought this property for $90,000 appro 12 years ago. I still have 18 acres left and the original homestead that I am living… read more
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